This is an illustration of a typical mortgage and its total cost. A mortgage of €250,000 payable over 20 years on a rate of 1.35% for the lifetime of the loan, would require 240 monthly payments of €1,189. The total amount payable would be €308,260 made up of the loan amount, plus interest (€22,340), life insurance (approx €12,600 based on a healthy 45 yr old adult) and arrangement and notary fees (€10,300). The overall cost for comparison is 2.28% APRC representative.
You could lose your home if you don't keep up your mortgage repayments.